Cross-Training for Finance: Increase Flexibility & Boost Performance
Accounts Payable and Payroll are crucial functions for every business, but those roles can quickly be disrupted when employees take vacation, get sick or are displaced by unexpected circumstances. It’s no picnic for the finance team members left to cover for each other.
We’ll show you how with the right cross-training plan you can not only keep your organization running at maximum efficiency, but sidestep costly compliance issues.
Join finance expert Dayna Reum to gain solutions to unexpected challenges and strategies to avoid potential compliance errors if there are sudden gaps in critical areas of your finance department or processes. You’ll discover:
- Best practices for process documentation to keep both departments organized
- Ways to communicate what each department needs to be successful when staffing is low or disrupted
- How to use IRS guidelines and reporting to determine key processes that must be covered
- Security and segregation of duty concerns employers need to address
Cross-training best practices for your AP and Payroll functions
- How to foster improved communication between AP and Payroll
- Developing clear process documentation for both departments
- What does each department need from the other to be successful?
- Common mistakes made in each department and how to avoid them
Compliance Considerations When Cross-training
- A review of the cost of non-compliance for tax withholding
- Up-to-date best practices for handling business expenses
- The final rule on which department is responsible for Form W-9
- Understand fringe benefits and the impact they have on both departments
- Maintaining audit-proof files and communications across departments
- How legal settlement payments should be paid and reported for each department
About the Speaker
Dayna is currently the Director of Payroll Operations at a major medical center in Chicago. Dayna has been heavily involved in the Payroll field over 20 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc.
During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures.
She has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics she has coved include Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian Payroll.
Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves in the National American Payroll Association on the National Strategic Leadership Task Force, and on the Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA.
This program will give you the tools you need to ensure your Payroll and AP departments collaborate efficiently and are prepared to cover for each other when employees are out of the office or unusual events disrupt normal business operations.
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!